By offering unprecedented insights, predictive capabilities, and automation to streamline processes, AI-powered inventory management tools are reshaping how businesses manage their inventories.
These tools use advanced algorithms to analyze data, predict demand, optimize inventory levels, and enhance overall operational efficiency.
If you’re looking to enjoy the vast benefits that these platforms have to offer, you’re in the right place.
In this blog post, we’ll explore 10 of the best AI inventory management solutions available in 2024 so you can easily decide which one is best for you.
Let’s get started.
10 Top AI Inventory Management Software
Here’s a list of our top 10 picks:
- C3
- Eazystock
- Peak
- QuickBooks
- ThroughPut
- Inventoro
- ZhenHub
- Hypersonix
- Analyticalways
- Talentelgia
1. C3
Source: C3
C3’s AI Inventory Optimization tool uses advanced AI, machine learning, and optimization techniques to empower companies with insights and visibility across their global supply chains.
With this tool, you can minimize inventory levels while ensuring sufficient stock availability to meet customer service level agreements.
Key features
- Provides a comprehensive view of the entire supply chain in real-time by integrating data from ERP, MRP, and external sources.
- Offers AI-driven recommendations for safety stock and reorder parameters.
- Allows you to use actual data to improve demand forecasting and mitigate risks.
- Lets you explore and analyze current and historical Bill of Materials (BOM) configurations so you can properly reorganize supply chains.
- Uses AI to predict On-Time-In-Full (OTIF) issues and provides configurable alerts to mitigate delays.
Pricing
You’ll need to sign up for a free demo first.
Related: 7 Top AI-Powered Report Generators for Enhanced Analytics
2. Eazystock
Source: Eazystock
EazyStock is a cloud-based inventory optimization software that uses AI-powered solutions to aid efficient inventory management and purchasing.
It allows you to harness real-time data, fine-tune stock rules, and dynamically adjust inventory parameters to improve availability and reduce costs.
Key features
- Automates demand forecasting to save time and improve accuracy.
- Helps optimize inventory levels to ensure the right quantity of products is available when needed.
- Generates ready-made orders based on optimized calculations.
- Integrates seamlessly with existing ERP systems
Pricing
You’ll need to book a demo first.
Related: 25 Growing AI Companies & Startups In 2024: Innovators to Watch
3. Peak
Source: Peak
This next AI inventory management software will help you optimize stock levels, reduce excess inventory and shipping costs, and maintain healthy working capital.
It provides businesses like yours with the tools they need to forecast, order, and balance optimal stock levels across their network.
Key features
- Provides optimal inventory levels to meet defined service levels, ensuring businesses have the right stock available at the right time.
- Calculates optimal purchase orders based on demand to reduce excess inventory.
- Ensures that you always maintain the optimal stock cover.
- Seamlessly integrates with your existing systems.
Pricing
Peak offers three pricing editions: Essentials, Business, and Enterprise.
However, you’ll need to book a demo first before choosing the right edition for your business.
4. QuickBooks
Source: QuickBooks
QuickBook’s inventory tracking software uses AI and automation to make time-consuming tasks like inventory management easier.
Key features
- Provides real-time updates on inventory levels.
- Sends alerts when stock levels are low.
- Integrates with various online sales channels and payment systems.
Pricing
- EasyStart: $24/month
- Essentials: $48/month
- Plus: $72/month
- Advanced: $140/month
A 30-day free trial is available.
Related: Top 10 Small Business Financial Software Solutions for Efficient Money Management [2024]
5. ThroughPut
Source: ThroughPut
Another AI inventory management tool, ThroughPut allows businesses to optimize their stock levels, reduce costs, and accelerate return on investment.
Key features
- Provides AI-powered forecasts to help you overcome the risk of demand variance.
- Allows you to monitor, predict, and replenish inventory across all channels through a centralized, real-time view of all inventory data
- Sends automatic alerts for stock replenishment plans to optimize inventory levels.
- Automatically unifies data from multiple data sources via APIs, Connectors and file uploads.
- Allows you to continuously evaluate inventory target levels across the supply chain.
- Provides AI-powered recommendations for allocation and distribution.
Pricing
You’ll need to schedule a demo first.
6. Inventoro
Source: Inventoro
Inventoro streamlines sales forecasting and inventory optimization processes for businesses of all sizes.
Through advanced algorithms and industry-standard inventory management techniques, Inventoro empowers users to decrease inventory, increase revenue, save time, and enhance customer satisfaction.
Key features
- Analyzes past sales data and predict future trends so you can accurately plan inventory needs.
- Categorizes inventory into top sellers, slow movers, and dead inventory to optimize product portfolio.
- Generates daily replenishment lists based on AI analysis to guide ordering and stock replenishment decisions.
- Seamlessly integrates with various platforms, allowing easy access to inventory data and enhancing forecasting accuracy.
Pricing
- Starts at $49/month ($42/month billed annually)
A 14-day free trial is available.
Related: The Top 10 Property Management Software for Small Landlords
7. ZhenHub
Source: ZhenHub
By employing several AI-powered technologies, this tool helps businesses gain complete visibility and control over their inventory.
Key features
- Integrates with your existing sales channels and import products to manage inventory efficiently.
- Lets you manage online and offline orders through a cloud-based system.
- Allows you to distribute products across multiple warehouses.
- Provides real-time reports that you can use to forecast inventory performance.
Pricing
You’ll need to request a quote.
8. Hypersonix
Source: Hypersonix
Hypersonix employs AI profit optimization analyses on business data to provide real-time actionable recommendations for businesses.
Its solutions cover demand forecasting, autonomous inventory management, pricing intelligence, and more to guide businesses through volatile market conditions.
Key features
- Offers you key inventory, sales, competitor, pricing, and promotions insights to help you gain market share.
- Allows you to identify optimal price points to enhance profit, revenue, or conversion rates.
- Automates various business rules and constraints to help speed up price, promo, and inventory changes.
- Uses advanced AI algorithms to generate actionable insights that you can use to make data-driven decisions.
Pricing
You’ll need to request a personalized demo first.
9. Analyticalways
Source: Analyticalways
This AI inventory management software provides end-to-end solutions that can enhance your inventory planning and stock management.
Key features
- Streamlines inventory planning processes including commercial planning, deep clustering, assortment planning, and initial allocation.
- Uses its predictive algorithms to offer daily suggestions that take into account trends, seasonality, peak demand, and more to ensure the ideal inventory stock management.
- Allows you to manage inventory across multiple sales channels and warehouses.
- Helps you avoid lost sales by managing excess products.
- Offers you a dashboard for managing KPIs.
Pricing
You’ll need to request a demo first.
Related: Top 10 AI Market Research Tools for In-Depth Analysis
10. Talentelgia
Source: Talentelgia
Talentelgia leverages AI algorithms to enable efficient order optimization and seamless stock tracking.
Key features
- Uses AI algorithms to forecast demand and optimize inventory so you can predict future needs based on historical data and market trends.
- Automatically reorders products when inventory falls below a set threshold.
- Aids real-time tracking of inventory levels.
- Forecasts future demand using AI algorithms, enabling better planning and stock allocation.
- Adjusts pricing based on demand, seasonality, and competitor pricing.
- Integrates AI-driven robotics and automation to streamline your warehouse processes.
Pricing
You’ll need to schedule a free consultation first.
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In conclusion, AI-powered inventory management solutions offer tremendous potential for streamlining operations, reducing costs, and enhancing customer satisfaction.
By leveraging these tools, businesses like yours can optimize inventory levels, improve order fulfilment rates, and gain a competitive edge in today’s dynamic marketplace.
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This newsletter, started by Ajay Yadav, — a passionate entrepreneur who founded Roomi & co-founded Simplified — aims to help startups stay ahead of the curve and make informed business choices.
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